In the U.K., Debenhams Plc has enjoyed a storied existence dating back to the 18th century. It was in 1788 that a London-based business was formed by founder William Clark, and began operation as a drapers' store. More than two centuries have passed since partner William Debenham joined Clark to form a corporation and eventually become the sole namesake, and in that time the company spread into 27 countries, with nearly 8,000 employed as of 2018. On Apr. 9, Debenhams announced that it was going into "pre-pack administration"- as a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to bankruptcy in the U.S.
CreditRiskMonitor fixed a cautious eye upon Debenhams and subscribers to the service were aware for more than a year that trouble was brewing:
This Bankruptcy Case Study will show how the FRISK® score was able to detect danger within Debenhams Plc before most knew the extent of the internal damage within.
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About Bankruptcy Case Studies
CreditRiskMonitor Bankruptcy Case Studies provide post-filing analyses of public company bankruptcies. Our case studies educate subscribers about methods they can apply to assess bankruptcy risk using CreditRiskMonitor’s proprietary FRISK® score, robust financial database, and timely news alerts.
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